Black Sea Investment Increases Capital By 14.3 Million leva

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Black Sea Investment Increases Capital By 14.3 Million leva

Black Sea Investment REIT Sofia ()  is planning to raise capital from 650,000 leva to 14.95 mln leva (7.64 mln euros), BSE informs.

The company will be offering for subscription 14.3 million shares at 1 lev part value.

650,000 rights have been issued, each of which entitles to the subscription of 22 new shares.

The capital will only be increased if at least 8 mln new shares are subscribed and paid.

Rights will be traded April 14 to 24. Unused rights will be auctioned May 10 and the deadline for subscription of shares is May 23.

The final date for transacting shares, as a result of which the holder will be entitled to receiving new shares from the capital increase, is 9 April 2008.

The only transaction involving shares in Black Sea Investment REIT on BSE was made October 23, when 250,000 shares changed hands at 2.55 leva apiece.

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